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UK financial services draw concessions from regulator over ‘name and shame’ plan

( November 28, 2024, 11:02 GMT | Official Statement) -- MLex Summary: The UK’s financial services regulator has proposed softening a controversial initiative to publish more information on its investigations in the wake of "significant concerns" raised by the industry. The Financial Conduct Authority proposed four changes, including giving firms 10 days’ notice ahead of any announcement under what has been dubbed the regulator's "name and shame" plan, instead one day initially proposed. The FCA also said in a fresh consultation today that as part of the public interest test it uses to decide whether to name a firm, it will explicitly consider any potential negative impact on the firm as well as any potential for public confidence in the financial system to be seriously disrupted....

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